Abuja, Feb. 28, 2024 – Olayemi Cardoso, the Governor of CBN says the apex bank has settled additional $400 million of valid foreign exchange backlog to those who were genuinely identified.
He said this at a press briefing in Abuja on Tuesday after the meeting of the Monetary Policy Committee.
Cardoso promised that the bank would work to restore the confidence of the public and remained committed to its foreign exchange rate stability.
“In terms of the backlog, we are committed to clearing the backlog of identified and genuine requests that are pending.
“We are committed to doing that and I can tell you that just today, we paid out $0.4 billion to those that were so identified, and we are committed to continuing doing so in one form or the other to those genuinely identified and proven cases.”
Cardoso said upon his assumption of office, he was faced with a foreign exchange backlog of about $7 billion, but the legitimate foreign exchange obligation stood at over $4 billion of which the bank had cleared around $2.3 billion with about $2.2 billion remaining.
It will be recalled that the CBN, in January, also paid about $62 million to foreign airlines out of its outstanding commitments. (GBN)
